Possible Impacts of Smart Contracts on Construction Claim Management

Vedat Nalioğlu; Hazal Tokdemir; Deniz Artan

doi:10.1007/978-3-031-32511-3_167

Possible Impacts of Smart Contracts on Construction Claim Management

Vedat Nalioğlu^*, Hazal Tokdemir, Deniz Artan

^*Corresponding author for this work

Department of Civil Engineering

Istanbul Technical University

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

1 Citation (Scopus)

Abstract

The information age and digital transformation challenge the construction industry's traditional business methods and current dynamics. Smart contracts are recently adopted in the construction industry to digitally facilitate the exchange of money, content, property, shares, and digitized asset. In this context, the usage of smart contracts is expected to impact the claims encountered in construction projects and the traditional claim management processes. This study aims to analyze the possible effects of smart contracts on construction claim management. A structured literature analysis was undertaken to determine the benefits that smart contracts may offer in this context. As a result, a research roadmap is developed to discuss the steps needed to integrate smart contracts in the construction claim management field. The study findings show that smart contracts may have considerable benefits in the claim management process including, record integrity, elimination of unnecessary bureaucracy, reliability of documents, reduction of transaction costs, and enhancing transparency.

Original language	English
Title of host publication	Building for the Future
Subtitle of host publication	Durable, Sustainable, Resilient - Proceedings of the Symposium 2023 - Volume 2
Editors	Alper Ilki, Derya Çavunt, Yavuz Selim Çavunt
Publisher	Springer Science and Business Media Deutschland GmbH
Pages	1631-1639
Number of pages	9
ISBN (Print)	9783031325106
DOIs	https://doi.org/10.1007/978-3-031-32511-3_167
Publication status	Published - 2023
Event	International Symposium of the International Federation for Structural Concrete, fib Symposium 2023 - Istanbul, Turkey Duration: 5 Jun 2023 → 7 Jun 2023

Publication series

Name	Lecture Notes in Civil Engineering
Volume	350 LNCE
ISSN (Print)	2366-2557
ISSN (Electronic)	2366-2565

Conference

Conference	International Symposium of the International Federation for Structural Concrete, fib Symposium 2023
Country/Territory	Turkey
City	Istanbul
Period	5/06/23 → 7/06/23

Bibliographical note

Publisher Copyright:
© 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Keywords

Construction Claim Management
Smart Contracts

Access to Document

10.1007/978-3-031-32511-3_167

Cite this

Nalioğlu, V., Tokdemir, H., & Artan, D. (2023). Possible Impacts of Smart Contracts on Construction Claim Management. In A. Ilki, D. Çavunt, & Y. S. Çavunt (Eds.), Building for the Future: Durable, Sustainable, Resilient - Proceedings of the Symposium 2023 - Volume 2 (pp. 1631-1639). (Lecture Notes in Civil Engineering; Vol. 350 LNCE). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/978-3-031-32511-3_167

Nalioğlu, Vedat ; Tokdemir, Hazal ; Artan, Deniz. / Possible Impacts of Smart Contracts on Construction Claim Management. Building for the Future: Durable, Sustainable, Resilient - Proceedings of the Symposium 2023 - Volume 2. editor / Alper Ilki ; Derya Çavunt ; Yavuz Selim Çavunt. Springer Science and Business Media Deutschland GmbH, 2023. pp. 1631-1639 (Lecture Notes in Civil Engineering).

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abstract = "The information age and digital transformation challenge the construction industry's traditional business methods and current dynamics. Smart contracts are recently adopted in the construction industry to digitally facilitate the exchange of money, content, property, shares, and digitized asset. In this context, the usage of smart contracts is expected to impact the claims encountered in construction projects and the traditional claim management processes. This study aims to analyze the possible effects of smart contracts on construction claim management. A structured literature analysis was undertaken to determine the benefits that smart contracts may offer in this context. As a result, a research roadmap is developed to discuss the steps needed to integrate smart contracts in the construction claim management field. The study findings show that smart contracts may have considerable benefits in the claim management process including, record integrity, elimination of unnecessary bureaucracy, reliability of documents, reduction of transaction costs, and enhancing transparency.",

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Nalioğlu, V, Tokdemir, H & Artan, D 2023, Possible Impacts of Smart Contracts on Construction Claim Management. in A Ilki, D Çavunt & YS Çavunt (eds), Building for the Future: Durable, Sustainable, Resilient - Proceedings of the Symposium 2023 - Volume 2. Lecture Notes in Civil Engineering, vol. 350 LNCE, Springer Science and Business Media Deutschland GmbH, pp. 1631-1639, International Symposium of the International Federation for Structural Concrete, fib Symposium 2023, Istanbul, Turkey, 5/06/23. https://doi.org/10.1007/978-3-031-32511-3_167

Possible Impacts of Smart Contracts on Construction Claim Management. / Nalioğlu, Vedat; Tokdemir, Hazal; Artan, Deniz.
Building for the Future: Durable, Sustainable, Resilient - Proceedings of the Symposium 2023 - Volume 2. ed. / Alper Ilki; Derya Çavunt; Yavuz Selim Çavunt. Springer Science and Business Media Deutschland GmbH, 2023. p. 1631-1639 (Lecture Notes in Civil Engineering; Vol. 350 LNCE).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AB - The information age and digital transformation challenge the construction industry's traditional business methods and current dynamics. Smart contracts are recently adopted in the construction industry to digitally facilitate the exchange of money, content, property, shares, and digitized asset. In this context, the usage of smart contracts is expected to impact the claims encountered in construction projects and the traditional claim management processes. This study aims to analyze the possible effects of smart contracts on construction claim management. A structured literature analysis was undertaken to determine the benefits that smart contracts may offer in this context. As a result, a research roadmap is developed to discuss the steps needed to integrate smart contracts in the construction claim management field. The study findings show that smart contracts may have considerable benefits in the claim management process including, record integrity, elimination of unnecessary bureaucracy, reliability of documents, reduction of transaction costs, and enhancing transparency.

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Nalioğlu V, Tokdemir H, Artan D. Possible Impacts of Smart Contracts on Construction Claim Management. In Ilki A, Çavunt D, Çavunt YS, editors, Building for the Future: Durable, Sustainable, Resilient - Proceedings of the Symposium 2023 - Volume 2. Springer Science and Business Media Deutschland GmbH. 2023. p. 1631-1639. (Lecture Notes in Civil Engineering). doi: 10.1007/978-3-031-32511-3_167

Possible Impacts of Smart Contracts on Construction Claim Management

Abstract

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Bibliographical note

Keywords

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